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US: Vantage selling for $2.7bn

By  |  September 27, 2016

On Monday, Rice Energy Inc. announced that it’s buying another oil and gas company, Vantage Energy Inc., for $2.7 billion.

A few months ago, Rice and Vantage competed for the oil and gas assets of bankrupt coal company Alpha Natural Resources. Rice was seen as a shoe-in for the Greene County properties, serving as a stalking horse bidder, but Vantage swooped in and won with a $339.5 million offer.

With this acquisition, which is scheduled to be completed in the fourth quarter, the Canonsburg-based firm will get the Alpha assets in the end.

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